Economic development committee approves five reimbursements, transfers roughly $33,006 from reserve fund

The Saratoga County Economic Development Committee on Wednesday approved five completed reimbursements to local municipalities and authorized a transfer of approximately $33,006 from the Economic Development Grant Reserve Fund to cover the payments.

Committee Chair said the committee had five completed reimbursements for the month: the Town of Corinth, the Town of Greenfield (a second partial reimbursement for its newsletter), the Town of Stillwater (a partial reimbursement for work completed so far), the Village of Round Lake and the City of Mechanicville. The chair said Round Lake and Mechanicville will forgo the remaining funds on their grants, leaving small leftover amounts at each of those grants.

The committee voted to approve the reimbursements by voice vote and then approved a companion resolution transferring almost $33,006.43 from the economic development grant reserve fund to pay those requests. The motion and second were recorded on the transcript but no roll-call tally was provided; the chair announced the motion carried following the voice vote.

Jason, an economic development staff member, said applications for the next round were emailed on March 11 with a due date of June 20; he reported that three or four applications had already been received and that two supervisors had called about projects, signaling likely strong participation. Staff and committee members said they expect more reimbursements to be processed next month as project work is completed.

The committee did not take additional action on grant policy at the meeting. Administrative staff Therese was identified on the record as the person who emailed the applications to towns. The committee moved on to other agenda items after the transfer was approved.